Reed City, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Reed City Neighborhoods Since 2000




Reed City, MI Real Estate Data


Reed City Housing Market Information

With 2,390 people, 1,061 houses or apartments, and a median cost of homes of $100,790, house prices in Reed City are solidly below the national average.

Single-family detached homes are the single most common housing type in Reed City, accounting for 60.58% of the city's housing units. Other types of housing that are prevalent in Reed City include large apartment complexes or high rise apartments ( 20.37%), duplexes, homes converted to apartments or other small apartment buildings ( 11.38%), and a few mobile homes or trailers ( 3.88%).

The most prevalent building size and type in Reed City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.80% owning and 51.20% renting.

There is a lot of housing in Reed City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Reed City built between 1940-1969 ( 30.16%). A lesser amount of the housing stock also hails from before 1939 ( 29.10%). There's also some housing in Reed City built between 2000 and later ( 7.76%).

Reed City Home Appreciation Rates

Reed City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Reed City during the period has been just -1.01%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Reed City's appreciation rate, at 5.09%, has been at or slightly above the national average. In the latest quarter, Reed City's appreciation rate has been 1.43%, which annualizes to a rate of 5.84%.

Relative to Michigan, our data show that Reed City's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$100,790

Reed City, MI HOME PRICES

Value Range
> $1,196,000 0.0
$897,001 - $1,196,000 0.0
$598,001 - $897,000 0.3
$478,001 - $598,000 1.0
$358,001 - $478,000 0.6
$239,001 - $358,000 3.7
$119,001 - $239,000 27.3
$60,001 - $119,000 48.2
$0 - $60,000 19.0

Low for MI
Low for Nation

Value Relative to Nation Value Relative to State
78.3451425894478 76.2820512820513

Number Of Homes And Apartments:
1,061

Rent & Ownership

 

Average Market Rent:
$816 / per month

Homeownership Rate

Homeownership
Owners 48.80
Renters 51.20
Vacant 6.44

Housing Market Details

 

Age of Homes

AGE OF Reed City HOMES
2000 or Newer 7.8
1970 - 1999 33.0
1940 - 1969 30.2
1939 or Older 29.1

Types of Homes

TYPE OF Reed City HOMES
Single-Family 60.6
Townhomes 3.8
Small Apt. Buildings 11.4
Apt. Complexes 20.4
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Reed City HOMES
No Bedroom 0.00
1 Bedroom 14.37
2 Bedrooms 27.07
3 Bedrooms 41.45
4 Bedrooms 11.73
5 or more bedrooms 5.38

Reed City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
8.17% 0.46% 6 1
* 10 is highest

Popular Neighborhoods in Reed City

Popular Communities Near Reed City, MI

Zip Codes in Reed City, MI